I wouldn't sign for 5 years if I was him. 2 year deal sounds fine.César Luis Merlo, who is fairly reliable in Mexico, also reported the same thing about Tigres being close to signing him.
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Honestly, this'll be an amazing signing for Tigres. As much as Thauvin struggled at Newcastle, he has matured into a very good footballer in his second spell with Marseille. I was expecting more European clubs to chase him, but maybe Thauvin himself isn't so interested in moving elsewhere within Europe.